Where the obligation in a contract is outstanding on the part of both parties, it is called

Related MCQs

• A contract in which, under the terms of a contract, one or both the parties have still to perform their obligations in future is known as
• A contract entered into between the parties by words is called-
• When the parties mutually agree to change certain terms of the contract. This is called
• Where a contract has to be inferred from the conduct of parties, it is called
• X contracts to sell his scooter to Y for Rs. 50,000 and Y agrees to pay on delivery. Both the parties perform their promises. This is called
• _________ indicates that the parties are not further bound under the contract
• If a contract provides for the payment of a certain amount on breach of a contract, such payment is termed as:
• Under the Contract Act, 1872 a person is said to be of sound mind for the purpose of making a contract if:
• A contract is discharged by the breach when a party to a contract
• Where a party to contract transfers his rights under the contract to another person, it is legally known as